Food Entrepreneur - October 25, 2022 - 11

positioned to be in that environment,
but I think it's important to note from
a macroeconomic standpoint, recent
data showed that the US Latino would be
the fifth largest GDP in the world. And
I think maybe four years ago it was the
ninth largest.
And the reason I think that's important
is because, one, it's the spending
Latino cultures into the future.
It's exciting to be in that environment
'... is it heritageinspired?
And are
we bringing some
level of innovation
to the shelf?'
- Miguel Garza,
Siete Family Foods
and to be positioned where we are, and
I think it's important to note that even
though Latinos are starting businesses
faster than any other group and actually
performing really well with those businesses,
they are still dramatically underfunded
from a venture capital perspective.
My hope is that if we can be
successful, and I now think we have
a responsibility to be successful, that
we will create a new pattern where we
change that statistic into the future.
What is the most significant factor
that you attribute to your success?
Mr. Garza: People and specifically
the team. Me and my family are incredibly
fortunate that we get to work with some
of the most humble yet hardworking and
incredibly capable and intelligent individuals
across the board.
I don't know how we have been so
fortunate, but I think we count it as one
of the biggest reasons that we've had any
success. ▪
FROM THE
SIETE FAMILY FOODS
power. It's education and affluence... And
then, what I don't think gets talked about
enough is when you take a step back, the
influence that Latino culture is having
domestically here in the US is probably
unlike anything we've ever seen before ...
which will feed this cultural shift, which
then plays out in flavor profiles at restaurants
- whether it's a Mexican restaurant
or not, the influence will be there - and
the products that are offered at grocery
stores.
You're probably going to see more
tortillas, tortilla chips and different
sauces and condiments from different
October 25, 2022
Food Business News
41
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Food Entrepreneur - October 25, 2022

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